Custom Index Systems LLC Increases Stake in AXIS Capital Holdings Limited (NYSE:AXS)

Custom Index Systems LLC lifted its stake in AXIS Capital Holdings Limited (NYSE:AXS) by 6.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,598 shares of the insurance provider’s stock after buying an additional 902 shares during the quarter. Custom Index Systems LLC’s holdings in AXIS Capital were worth $1,382,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in AXIS Capital in the 3rd quarter worth $40,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of AXIS Capital by 32.6% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 602 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of AXIS Capital by 24.0% in the fourth quarter. Versant Capital Management Inc now owns 671 shares of the insurance provider’s stock worth $59,000 after buying an additional 130 shares in the last quarter. R Squared Ltd bought a new position in AXIS Capital during the fourth quarter valued at approximately $82,000. Finally, Blue Trust Inc. grew its holdings in AXIS Capital by 424.6% during the 3rd quarter. Blue Trust Inc. now owns 1,217 shares of the insurance provider’s stock valued at $97,000 after buying an additional 985 shares in the last quarter. Institutional investors own 93.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. UBS Group upped their target price on shares of AXIS Capital from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Bank of America boosted their price objective on shares of AXIS Capital from $81.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods raised their target price on shares of AXIS Capital from $108.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. StockNews.com downgraded shares of AXIS Capital from a “buy” rating to a “hold” rating in a report on Friday. Finally, TD Cowen raised their price objective on shares of AXIS Capital from $118.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.25.

AXIS Capital Price Performance

AXIS Capital stock opened at $90.98 on Friday. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 7.37, a price-to-earnings-growth ratio of 0.29 and a beta of 0.95. The firm has a 50-day moving average of $90.09 and a two-hundred day moving average of $82.50. AXIS Capital Holdings Limited has a 1 year low of $55.56 and a 1 year high of $94.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60.

AXIS Capital (NYSE:AXS) last announced its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.29. AXIS Capital had a return on equity of 18.89% and a net margin of 18.16%. On average, research analysts forecast that AXIS Capital Holdings Limited will post 11.45 earnings per share for the current year.

AXIS Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.44 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.76 annualized dividend and a dividend yield of 1.93%. AXIS Capital’s payout ratio is currently 14.25%.

About AXIS Capital

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.